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The Global X Russell 2000 Covered Call & Growth ETF (RYLG) follows a covered call or buy-write strategy, in which the Fund buys the stocks in the Russell 2000 Index and writes or sells corresponding call options on approximately 50 percent of the value of the portfolio of stocks in the same index.

Vanguard Russell 2000 Index Fund ETF Shares

Global X Russell 2000 Covered Call & Growth ETF

Global X Funds Global X Russell 2000 Covered Call & Growth ETF

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk reiterated his criticism of LiDAR on Wednesday but explained that he is not fundamentally against the technology.
What Happened: &#8220;Obviously, humans drive without shooting lasers out of their eyes. I mean, unless you&#8217;re Superman&#8230;. humans drive with eyes and a neural net and a brain neural net, sort of biological&#8230; the digital equivalent of eyes and a brain are cameras and digital neural nets or AI,&#8221; Musk said in the company&#8217;s fourth-quarter earnings call. 
Musk said that LiDAR is simply the &#8220;wrong solution&#8221; for self-driving cars on roads. However, his rocket manufacturing company SpaceX&#8217;s Dragon spacecraft continues to use it for docking with the space station, he said. 
Why It Matters: Musk&nbsp;has previously criticized LiDAR,&nbsp;<a href="https://www.benzinga.com/news/24/11/41699028/tesla-investor-says-ev-giant-will-admit-it-needs-lidar-despite-elon-musk-calling-it-a-crutch" target="_blank" rel="noreferrer noopener">terming it a "crutch</a>". None of the company&#8217;s sold vehicles have lidars. In 2022, the company also removed ultrasonic sensors from its vehicles to rely solely on cameras.
However, not all are in agreement with Musk&#8217;s decision to rely solely on cameras for autonomous driving. 
"…you really do need significantly more hardware than Tesla is putting in the vehicles to build a robotaxi that's not just as safe but especially safer than a human,"&nbsp;Zoox&nbsp;co-founder&nbsp;Jesse Levinson&nbsp;<a href="https://www.benzinga.com/news/24/10/41645383/elon-musk-slams-zoox-co-founder-over-fsd-criticism-your-company-would-be-dead-already-if-not-for-ama" target="_blank" rel="noreferrer noopener">opined in October</a>&nbsp;while adding that there is a need for sensor data despite advancements in AI to protect against camera malfunctions and ensure fully safe rides.
Alphabet Inc.&#8217;s&nbsp;autonomous ride-hail company&nbsp;Waymo&nbsp;<a href="https://www.benzinga.com/news/24/11/41676465/tesla-can-make-cybercab-for-the-same-money-it-takes-waymo-to-install-lidar-sensors-on-its-robotaxi-s" target="_blank" rel="noreferrer noopener">continues to use LiDAR</a>&nbsp;in its robotaxis.&nbsp;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43262125/spacex-launches-in-2025-12-falcon-9-launches-1-starship-test-flight" target="_blank" rel="noreferrer noopener">Elon Musk's SpaceX Launches In 2025 So Far: 12 Falcon 9 Launches, 1 Starship Test Flight</a></li>
</ul>
Photo courtesy: Shutterstock

News

Tech

TSLA

Tesla CEO Elon Musk Dismisses LiDAR Again: 'Humans Drive Without Shooting Lasers Out Of Their Eyes'

SoftBank Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBF#OTC">SFTBF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFTBY#OTC">SFTBY</a>) is reportedly negotiating a potential investment of $15 billion to $25 billion in OpenAI. This move could make SoftBank the largest investor in the ChatGPT creator, surpassing Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has <a href="https://www.benzinga.com/24/12/42664762/after-investing-nearly-14-billion-in-openai-microsoft-reportedly-moves-to-reduce-its-dependence-on-chatgpt-parent">invested nearly $14 billion</a>.
What Happened: The investment would support OpenAI&#8217;s commitment to the <a href="https://www.benzinga.com/25/01/43139410/softbanks-role-in-500-billion-stargate-ai-venture-seen-as-major-growth-driver-analyst-says">Stargate AI infrastructure project</a>, a joint venture with companies like SoftBank, Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), and the UAE&#8217;s MGX fund, <a href="https://www.wsj.com/tech/softbank-in-talks-to-invest-up-to-25-billion-in-openai-03d653fc?mod=mhp">reported</a> the Wall Street Journal, citing a person familiar with the matter.
Stargate plans to invest up to $500 billion in AI data centers over the next four years. SoftBank&#8217;s funding for OpenAI would be separate from its planned $15 billion investment in the Stargate initiative.
See Also: <a href="https://www.benzinga.com/tech/25/01/43327016/microsoft-ceo-satya-nadella-accepts-deepseek-ai-has-some-real-innovations-but-wont-say-if-they-mark-a-turning-point-for-ai-cost-reduction">Microsoft CEO Satya Nadella Accepts DeepSeek AI Has Some &#8216;Real Innovations&#8217; — But Won&#8217;t Say If They Mark A Turning Point For AI Cost Reduction</a>
Despite the potential investment, SoftBank would hold a smaller stake in OpenAI&#8217;s for-profit division compared to Microsoft, due to the latter's earlier investments, the report noted
Why It Matters: Last year, OpenAI&#8217;s valuation surged to $157 billion following a<a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round"> $6.6 billion funding round</a>. At that time, the Tokyo-based conglomerate SoftBank invested $500 million in OpenAI.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Elon Musk's xAI has also quickly expanded, reaching an estimated valuation of $50 billion in 2024.
Perplexity AI, supported by Amazon founder Jeff Bezos in December raised $500 million in a funding round, boosting its <a href="https://www.benzinga.com/tech/24/12/42570376/jeff-bezos-backed-perplexity-raises-500-million-tripling-its-valuation-to-9-billion-as-competition-with-google-and-openai-heats-up">valuation to $9 billion</a>.
Anthropic, backed by Google, is also reportedly in late-stage discussions to secure $2 billion in funding, which would push its <a href="https://www.benzinga.com/25/01/43127416/anthropic-gains-big-with-google-backing-aiming-for-60-billion-valuation-and-surging-ai-revenue">valuation to $60 billion</a>.
Photo by NP27 on Shutterstock.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/43221770/apples-ipad-turns-15-today-heres-a-throwback-to-when-steve-jobs-explained-called-it-the-third-category-after-phones-and-notebooks" target="_blank" rel="noreferrer noopener">Apple&#8217;s iPad Turns 15 Today: Here&#8217;s A Throwback To When Steve Jobs Explained Called It The ‘Third Category&#8217; After Phones And Notebooks</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Media

MSFT

ORCL

SFTBF

SFTBY

SoftBank Eyes Historic $25 Billion Investment In OpenAI, Set To Dethrone Microsoft As Biggest Investor In ChatGPT-Parent

Guidance&nbsp;
&nbsp;In 2025, sales are anticipated to grow by a mid-to-high single-digit percentage at CER5 . Sanofi confirms the expectation of a strong rebound in business EPS with growth at a low double-digit percentage at CER (before share buyback).6 • Sanofi intends to execute a share buyback program in 2025 of €5 billion. Shares will be purchased preferably through block trades and in the open market with the purpose of cancellation

Earnings

Guidance

Sanofi 2025 Guidance: Sales To Grow Mid-To-High Single Digits (CER), Business EPS To Rise Low Double Digits (CER); Plans A €5B Share Buyback

Takeda Pharmaceutical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) reported quarterly earnings of ¥15.01 per share. This is a 77.72 percent decrease over earnings of ¥67.38 per share from the same period last year. The company reported quarterly sales of ¥1.144 trillion which beat the analyst consensus estimate of ¥1.139 trillion by 0.42 percent. This is a 2.97 percent increase over sales of ¥1.111 trillion the same period last year.

Earnings Beats

Takeda Pharmaceutical Q3 2024 GAAP EPS ¥15.01 Down From ¥67.38 YoY, Sales ¥1.144T Beat ¥1.139T Estimate

International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) delivered better-than-expected fourth-quarter results, exceeding analysts&#8217; expectations, and unveiled its big bets on artificial intelligence strategies and offerings.
What Happened: IBM has integrated AI in all of its business segments, from the tools clients use to manage and optimize their hybrid cloud environments, infrastructure, consulting, and its platform products.
&#8220;Our book of business related to generative AI now stands at greater than $2 billion inception-to-date. The mix is roughly one quarter software and three quarters consulting signings,&#8221; said the CEO and Chairman, Arvind Krishna during the company&#8217;s earnings call.
According to its AI strategy, IBM uses a &#8220;comprehensive platform approach&#8221;. Its hybrid cloud solutions, Rhel.ai and OpenShift AI serve as the foundation of their enterprise AI platform.
&#8220;They combine open-source IBM Granite&#8217;s LLMs (large language models) and InstructLab model alignment tools with full-stack optimization, enterprise-grade security and support and model indemnification,&#8221; added the CEO.
Additionally, IBM watsonx is a platform that combines AI assistance to help both its own and its clients&#8217; businesses to use AI more effectively.
Here is the list of IBM&#8217;s AI offerings and how they can be integrated into their clients&#8217; businesses:
<h3 class="wp-block-heading">IBM&#8217;s Granite Models</h3>
Granite, which is a family of AI models developed by IBM, is smaller and more cost-effective than LLMs. These models are trained on 116 programming languages and can be customized to specific use cases. IBM has open-sourced these models under the Apache 2.0 license.
Comparing it to the Linux of the AI era, Krishna said that he sees Granite, &#8220;Becoming dominant in the enterprise server space, thanks to the speed and innovation offered by open-source.&#8221;
<h3 class="wp-block-heading">InstructLab</h3>
IBM has also launched InstructLab, a tool that allows clients to rapidly tune their AI models using their own generated data. This tool can help clients customize their models.
<h3 class="wp-block-heading">Watsonx Code Assistant for Z</h3>
IBM is seeing early momentum in watsonx Code Assistant for Z, a tool that uses AI to help developers write code for IBM Z mainframes. This tool can help to improve developer productivity and reduce errors.
Talking about this offering, the senior VP and CFO, James J Kavanaugh said, &#8220;AI middleware, watsonx Assistants, the recently announced IBM Concert, and others contributed about $0.5 billion to our AI book of business inception to date.&#8221;
See Also: <a href="https://www.benzinga.com/general/market-summary/25/01/43297852/marjorie-taylor-greene-loads-up-on-meta-amazon-tesla-nvidia-and-other-stocks-as-donald-trumps-new-equations-with-big-tech-leaders-sets-stage-for-growth-what-is-at-stake">Marjorie Taylor Greene Loads Up On Meta, Amazon, Tesla, Nvidia And Other Stocks As Donald Trump&#8217;s New Equations With Big Tech Leaders Sets Stage For Growth: What Is At Stake?</a> 
Why It Matters: According to the IBM CEO, their early leadership in AI positions the company for &#8220;long-term success and this transformational technology&#8221;.
In the fourth quarter, the company reported <a href="https://www.benzinga.com/25/01/43321676/ibm-reports-q4">earnings</a> per share of $3.92, beating analyst estimates of $3.75. Revenue also slightly surpassed predictions, reaching $17.55 billion compared to the anticipated $17.54 billion. This represents a modest increase from the $17.38 billion generated during the same period last year.
A closer look at the results reveals a mixed performance across different segments:
<ul>
<li>Software: This area showed strong growth with revenue up by 10%.</li>
<li>Consulting: This segment experienced a decline, with revenue down 2%.</li>
<li>Infrastructure: This was the weakest area, with revenue decreasing by 8%.</li>
</ul>
See Also: <a href="https://www.benzinga.com/25/01/43321676/ibm-reports-q4">IBM Stock Rallies After Strong Q4 Report: Software Revenue Up 10%</a>
Price Action: IBM shares closed 1.32% higher on Wednesday and advanced by 8.85% in after-hours to $248.85 per share, outpacing SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 index, which declined 0.45% to $601.81.
According to the 22 analysts <a href="https://www.benzinga.com/quote/IBM/analyst-ratings">tracked by Benzinga</a>, IBM has a consensus price target of $200.19 per share with a &#8216;hold&#8217; rating. The highest target price is $260 and the lowest is $139.
The average price target of $233.33 apiece between Morgan Stanley, RBC Capital, and JPMorgan implies a 6.24% downside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/IBM/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="385" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30005630/IBM-ANR-1024x385.png" alt="" class="wp-image-757288" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30005630/IBM-ANR-1024x385.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30005630/IBM-ANR-300x113.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30005630/IBM-ANR-768x288.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/30005630/IBM-ANR.png 1057w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/01/43296058/elon-musks-tesla-is-over-4x-more-expensive-than-industry-average-despite-weak-delivery-volumes-in-2024">Elon Musk&#8217;s Tesla Is Over 4X More Expensive Than Industry Average Despite Weak Delivery Volumes In 2024</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

Market Summary

Broad U.S. Equity ETFs

Markets

ETFs

General

IBM Beats Q4 Estimates, Bets Big On AI With $2 Billion Generative AI Business

Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) reported quarterly earnings of $0.70 per share which missed the analyst consensus estimate of $0.74 by 5.54 percent. This is a 21.46 percent decrease over earnings of $0.89 per share from the same period last year. The company reported quarterly sales of $11.275 billion which beat the analyst consensus estimate of $11.162 billion by 1.01 percent. This is a 4.07 percent decrease over sales of $11.753 billion the same period last year.

Earnings Misses

Sanofi Q4 2024 Adj. EPS $0.70 Misses $0.74 Estimate, Sales $11.275B Beat $11.162B Estimate

The Federal Reserve maintained <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43309377/interest-rate-speculation-heats-up-before-fed-meeting-what-betting-markets-signal">interest rates at 4.25%-4.5% on Wednesday</a>, prompting Allianz Chief Economic Advisor Mohamed El-Erian to suggest rate cuts might not materialize until June at the earliest, while President Donald Trump criticized the central bank&#8217;s approach to banking regulation.
What Happened: El-Erian, writing on X, noted that the Fed&#8217;s statement points to a &#8220;solid economy&#8221; and &#8220;elevated&#8221; inflation, with markets pushing yields slightly higher after the removal of language about inflation progress. 
&#8220;I strongly suspect that the goal of the Fed is not for us to learn anything new,&#8221; El-Erian <a href="https://www.bbc.com/reel/video/p0kmtx2k/expert-predicts-no-fed-rate-cut-before-june-29-jan-2025">told</a> BBC, suggesting the central bank aimed to &#8220;fly under the radar&#8221; during this meeting. &#8220;I suspect we won't see an interest rate cut until June at the earliest.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As expected, the Federal Reserve left rates unchanged. The accompanying statement points to a solid economy, unemployment having &quot;stabilized,&quot; and inflation remaining elevated. With the removal of the reference to inflation making progress towards its objective, the markets&#39;…
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1884680057697829194?ref_src=twsrc%5Etfw">January 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) traded near flat following the announcement, while Treasury yields edged higher, with the two-year yield increasing 3 basis points to 4.24%. Market expectations now show a 30% probability of a March rate cut, increasing to 45% for June.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43327057/mark-zuckerberg-says-metas-llama-4-to-feature-agentic-capabilities-unlocking-new-use-cases-it-will-become-one-the-most-widely-used-ai-models">Mark Zuckerberg Says Meta&#8217;s Llama 4 To Feature &#8216;Agentic Capabilities,&#8217; Unlocking New Use Cases: It Will Become One The Most &#8216;Widely Used&#8217; AI Models</a>
Why It Matters: Trump, responding to the Fed&#8217;s decision on Truth Social, pledged to address inflation through expanded energy production and regulatory cuts if elected. &#8220;The Fed has done a terrible job on Bank Regulation,&#8221; Trump wrote, promising <a href="https://www.benzinga.com/markets/25/01/43325490/trump-slams-feds-terrible-job-on-bank-regulation-after-rate-hold-vows-to-unleash-lending-for-all-american-people">Treasury-led reforms</a> to &#8220;unleash lending for all American people.&#8221;
Fed Chair Jerome Powell, maintaining the central bank&#8217;s independence, declined to comment on Trump&#8217;s criticism during his press conference. 
Comerica Bank Chief Economist Bill Adams suggested the Fed&#8217;s <a href="https://www.benzinga.com/25/01/43319060/first-rate-cut-in-june-if-at-all-in-2025-economist-says-as-federal-reserve-holds-rates-steady">cautious stance might reflect concerns</a> about potential inflationary pressures from proposed Trump administration policies, including higher tariffs and immigration controls.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/01/43327008/microsofts-13-billion-run-rate-and-openai-azure-deal-spark-surge-in-enterprise-demand-for-ai-solutions-just-first-tranche-of-future-growth-potential">Microsoft&#8217;s $13 Billion Run Rate And OpenAI Azure Deal Spark Surge In Enterprise Demand For AI Solutions: Just &#8216;First Tranche&#8217; Of Future Growth Potential</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Federal Reserve

Mohamed El-Erian Says Fed Wants To 'Fly Under The Radar,' Expects No Rate Cut Until June At The Earliest

In the fourth quarter, provision for credit losses was € 420 million and 35 bps of average loans, down 15% from € 494 million in the third quarter and down 14% from the prior year quarter. The quarter-on-quarter development primarily reflects a decline in provisions for non-performing loans (Stage 3) from € 482 million to € 415 million, driven by a larger recovery on a legacy case and a decline in commercial real estate provisions as expected. Provision for performing (Stage 1 and 2) loans was € 6 million; the effect of portfolio movements was largely offset by slightly improved macroeconomic forecasts and overlay recalculations. For 2025, the bank expects provision for credit losses to be around € 350-400 million per quarter on average.

Deutsche Bank's Q4 Credit Loss Provisions Fell 15% To €420M (35 Bps Of Loans) From Q3, Driven By Lower Stage 3 Provisions. 2025 Guidance: €350M–€400M Per Quarter

Deutsche Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) reported quarterly earnings of $0.16 per share which beat the analyst consensus estimate of $0.14 by 14.36 percent. This is a 77.76 percent decrease over earnings of $0.72 per share from the same period last year. The company reported quarterly sales of $7.710 billion which beat the analyst consensus estimate of $7.125 billion by 8.21 percent. This is a 7.58 percent increase over sales of $7.167 billion the same period last year.

Deutsche Bank Q4 2024 GAAP EPS $0.16 Beats $0.14 Estimate, Sales $7.710B Beat $7.125B Estimate

A wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") is committing, as an anchor LP to the first fund managed by the new business, 20% or up to $400 million of capital for the first fund.&nbsp; Welltower and Welltower's management is also contributing 20% of the LP capital up to a total of $400 million.

WELL

Reported Earlier, Welltower Expands Into Private Fund Management With Abu Dhabi Investment Authority As Anchor Investor

Under the terms of the merger agreement, NorthStar Healthcare's stockholders will receive $3.03 per share in cash. This per share consideration exceeds the net asset value per share of $2.96 determined by NorthStar Healthcare's board of directors as of June 30, 2024.

Reported Earlier, Welltower To Acquire Northstar Healthcare Income For $900M, Paying $3.03 Per Share In Cash

Reported Earlier, Marcus & Millichap Arranges $89.6M Financing For Two New Apartment Projects Near Minneapolis

&#x25AA; Nokia issues full year 2025 outlook on an organic basis. Nokia expects comparable operating profit of between EUR 1.9 billion and 2.4 billion and free cash flow conversion from comparable operating profit of between 50% and 80%.

Nokia 2025 Outlook: Expects Comparable Operating Profit Of €1.9B–€2.4B And Free Cash Flow Conversion Of 50%–80%

Business Outlook
ST's guidance, at the mid-point, for the 2025 first quarter is:
<ul>
<li>Net revenues are expected to be $2.51 billion, a decrease of 24.4% sequentially, plus or minus 350 basis points.</li>
<li>Gross margin of 33.8%, plus or minus 200 basis points.</li>
<li>This outlook is based on an assumed effective currency exchange rate of approximately $1.06 = €1.00 for the 2025 first quarter and includes the impact of existing hedging contracts.</li>
<li>The first quarter will close on March 29, 2025.</li>
</ul>

STMicroelectronics Q1 Outlook: Expected Net Revenues Of $2.51B (Vs. $2.76B Est.), Down 24.4% Sequentially; Gross Margin Forecast At 33.8% ± 200 Basis Points

Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.13 by 47.69 percent. This is a 74.55 percent increase over earnings of $0.11 per share from the same period last year. The company reported quarterly sales of $6.385 billion which beat the analyst consensus estimate of $6.171 billion by 3.46 percent. This is a 3.94 percent increase over sales of $6.143 billion the same period last year.

Nokia Q4 2024 Adj. EPS $0.19 Beats $0.13 Estimate, Sales $6.385B Beat $6.171B Estimate

STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) reported quarterly earnings of $0.37 per share which missed the analyst consensus estimate of $0.38 by 2.63 percent. This is a 67.54 percent decrease over earnings of $1.14 per share from the same period last year. The company reported quarterly sales of $3.321 billion which beat the analyst consensus estimate of $3.313 billion by 0.24 percent. This is a 22.44 percent decrease over sales of $4.282 billion the same period last year.

STMicroelectronics Q4 2024 GAAP EPS $0.37 Misses $0.38 Estimate, Sales $3.321B Beat $3.313B Estimate

Butterfly intends to use the net proceeds from this offering to fund the development and commercialization of new and existing products and services and for general corporate purposes.

BFLY

Reported Earlier, Butterfly Network Prices $75.6M Public Offering Of 24M Class A Common Stock At $3.15/Share

IPOs

BBNX

Reported Earlier, Beta Bionics Prices $204M Initial Public Offering Of 12M Common Shares At $17/Share

IMNM

Reported Earlier, Immunome Prices Upsized Public Offering Of 19,354,839 Common Stock At $7.75/Share

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) reported a 113% rise in revenue from its energy generation and storage segment for the fourth quarter despite an 8% dip in automotive revenues.
What Happened: Tesla reported revenue of over $3 billion from its energy segment or more than double the $1.44 billion reported in the corresponding quarter of 2023, upon deploying a record <a href="https://www.benzinga.com/25/01/42780335/teslas-evergy-storage-deployements-rise-in-q4-even-as-vehicle-deliveries-disappoint">11.0 GWh of energy storage products</a> in the quarter. 
<a href="https://www.benzinga.com/tech/25/01/43326143/tesla-stock-rises-5-after-hours-on-fsd-and-new-vehicle-promises-despite-q4-revenue-miss">Automotive revenue</a>, however, dipped 8% to $19.8 billion despite the company reporting a record 495,570 vehicle deliveries in the three months. This is likely because the company relied on cheap financing and discounts to surge deliveries in the period. 
Revenue from the energy segment accounted for about 12% of the company&#8217;s total revenue in the quarter, while the automotive segment accounted for 77%. The company reported quarterly <a href="https://www.benzinga.com/news/earnings/25/01/43321103/tesla-q4-earnings-highlights-revenue-miss-eps-miss-ev-updates-automaker-says-2025-will-be-a-seminal-year">total revenue</a> of $25.71 billion, missing a street consensus estimate of $27.26 billion.
Why It Matters: Tesla continues to be <a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp">hopeful for its energy segment</a> for it said on Wednesday that it expects energy storage deployment to grow at least 50% year-over-year in 2025.
Tesla currently operates a Megafactory in Lathrop, California, capable of producing 10,000 Megapack units per year. The company is also building a Megafactory in Shanghai, which it expects to start shipping Megapacks in the first quarter of 2025. Musk on Wednesday also hinted that the company is looking to build a third factory for energy storage production.
The company manufactures Megapack, a powerful battery, in addition to its home battery, Powerwall. The company is also ramping up production of Powerwall 3, the latest iteration of the product.
However, Tesla noted that both the power wall and megapack continue to be supply-constrained as it opens to new markets.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43257819/tesla-got-over-70000-orders-for-new-model-y-in-china-in-five-days-report" target="_blank" rel="noreferrer noopener">Tesla's New Model Y Gets Over 70,000 Orders In 5 Days Of Launch In China Despite Costing 5% More Than Its Predecessor: Report</a></li>
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